Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h −0.012%

Price spread now: SunX against Injective+0.246%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Injective Short on SunX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. SunX is 0.246% dearer against Injective than usual: you sell high and buy low (spread +0.246% now, against zero (this spread has no 7-day history yet)): +$25 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 25 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective XAU/USDC PERP	4,350.4	0.0033	pay 0.0004% / 1h	40m 38s	$619	$54	52x
Short	SunX XAU-USDT	4,361.1	0	get 0.0000% / 4h	2h 40m	$93K	$9.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Injective. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee InjectivebpFee SunXbpOrdersPrice spread, now +0.246%Rate

Funding earned: −$7
Price spread: +0.246% → 0.000%: $24.6
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee SunX: 4 bp × 2 orders: −$8
Net: $9.58
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; SunX: live order book, 8 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Injective no order-book sample	—	—	—	—	—
Sell SunX live order book, 8 min ago	23.68 bp	29.6 bp −$30	47.2 bp −$472	doesn't fit	doesn't fit

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

XAU on 39 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bluefin GOLD-PERP	−0.0318%	1h	4,348.4	−0.047%	$25K	$14K	20x	as long as short
Hotstuff GOLD-PERP	−0.0024%	1h	4,354.2	+0.087%	$33K	—	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,357.8	+0.170%	$69.7M	$282.6M	20x	as long as short
Gate XAU_USDT	0.0000%	4h	4,359.5	+0.208%	$263.3M	$406.9M	100x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,353.1	+0.062%	$4.1M	$36.5M	15x	as long as short
SunX XAU-USDTshort	0.0000%	4h	4,361.1	+0.246%	$93K	$9.7M	20x
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,352.5	+0.047%	$269K	—	250x	as long as short
Extended XAU-USD	+0.0032%	1h	4,353.8	+0.078%	$13.6M	$43.0M	25x	as long as short
Injective XAU/USDC PERPlong	+0.0033%	1h	4,350.4	long leg	$619	$54	52x
StandX XAU-USD	+0.0040%	1h	4,356.1	+0.131%	$3.8M	$4.7M	40x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest GC-PERP	+0.0046%	1h	4,389.1	+0.889%	—	$1.0M	25x	as long as short
Lighter XAU	+0.0048%	1h	4,356.9	+0.148%	$20.7M	$43.5M	25x	as long as short
Lighter RH XAU	+0.0048%	1h	4,358.8	+0.191%	$20.1M	$40.8M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,354.2	+0.087%	$293.8M	$48.4M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,355.3	+0.111%	$15.0M	$57.6M	25x	as long as short
QFEX GOLD-USD	+0.0051%	1h	4,357.8	+0.170%	$5.6M	$1.9M	20x	as long as short
Polymarket Perps GOLD-USD	+0.0060%	1h	4,354.8	+0.101%	$4.3M	$1.9M	20x	as long as short
Variational Omni XAU	+0.0061%	4h	4,355.7	+0.122%	$48.3M	$28.4M	—	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,350.6	+0.004%	$2.0M	$5.0M	25x	as long as short
MEXC XAU_USDT	+0.0080%	4h	4,358.1	+0.176%	$372.5M	$321.4M	1000x	as long as short
Binance XAUUSDT	+0.0082%	4h	4,357.3	+0.158%	$410.4M	$2.10B	100x	as long as short
Paradex XAU-USD-PERP	+0.0085%	8h	4,357.4	+0.160%	$19K	$5K	5x	as long as short
edgeX XAUUSDC	+0.0098%	4h	4,351.9	+0.034%	$30.3M	$60.4M	50x	as long as short
Pacifica XAU	+0.0100%	1h	4,353.7	+0.075%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,353.3	+0.067%	$275K	$204K	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,355.8	+0.125%	$161K	$87	10x	as long as short
Phoenix GOLD	+0.0121%	1h	4,354.7	+0.098%	$48K	$64K	25x	as long as short
RISEx XAU/USDC	+0.0135%	1h	4,357.9	+0.171%	$3.4M	$12.4M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0138%	4h	4,358.7	+0.190%	$1.4M	$3.0M	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0140%	1h	4,355.2	+0.110%	$234K	$661K	25x	as long as short
Bitget XAUUSDT	+0.0146%	4h	4,358.6	+0.187%	$69.4M	$109.6M	100x	as long as short
Bullet GOLD-USD	+0.0156%	1h	4,355.5	+0.118%	$59K	$83K	10x	as long as short
Bybit XAUUSDT	+0.0183%	4h	4,358.4	+0.184%	$84.2M	$143.6M	150x	as long as short
OKX XAU-USDT-SWAP	+0.0224%	8h	4,358.7	+0.190%	$165.0M	$284.8M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0269%	1h	4,353.1	+0.062%	$594K	$141K	25x	as long as short
BloFin XAU-USDT	+0.0286%	4h	4,364.8	+0.331%	$15.5M	$4.6M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0394% / S −0.0199%	1h	4,355.5	+0.118%	$253K	—	111x	as long as short
Phemex XAUUSDT	+0.0411%	4h	4,360.9	+0.240%	$2.2M	$1.1M	100x	as long as short
HTX XAU-USDT	+0.0530%	4h	4,361	+0.243%	$2.9M	$3.9M	75x	as long as short